New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-07
THE DIRECTORS MEET IN CINCINNATI
ACQUIRING TO MEET IN NEw-YOaK-CoNFER-

AD'oORNiNG TO MEET IN NEw-YoaK-coNfEH-
ENCEs WITH HENRY s. IvFs.
CINCINNATI, Aug. Cat o'clock the directors
meeting OF the Cincinnati, Hamilton and Dayton
Railroad convened. julius Dexter, who had acttd
Us chairman of TIE stockholders committee, when
mad been comforting with Mr. Ives, stated that inc
committee not ready TO report, that 1t pro-
posed to 20 to NewYork tonight to make TURNER eA
ANIMATION OF the books, and it recommended Una. 'e
Board OF Directors also 20 to New-fork ana hoid
a meeting there on Monday, when some changes an
the Board of Directors may b5lbade; and that an
other meeting be held August 49, TO hear the report
the stockhoders committee. This was agreed TO-
and so all action deferred until the meetings 10 Ue
held In New-yoik. The directors whose places VIII
oe hiled on Monday are Messrs. Cowan and wade. l
Is understood that Thomas Emery and A. B. Winslo"
OF this city, will be put In their places.
NO action was taken at all on the proposition 10
pase the Fort Wayne road and guarantee It's stocS,
an tDat being postponed until the present compica-
iions are settled President Staynor not present
Dnt sent "A telegram declining to resign. This puts
new phase the proposed reorganization as 10 was
supposed he would consent TO retire and to put the
management in Cincinnati hands,
several conferences have been held between Cincin-
nan holders of Cincinnati, Hamilton and Dayton
STOCK and Henry :. Ives. The result 10 not yet al
nouneed Il. A. Ferguson deprecatcs the disposition
W nouhd 1r Ives and says that he has done notnhg
wrong, and that the talk of beginning legal proceed
lngs against him nonsense.
1t was generally understood in Wall Street a. the
close Of business yesterday that the meeting Of the
Cincinnati, Hamilton and Dayton Railroad Company
had been adjourned without agreeing On SUCCESSORS
to tho present executive officers Henry 5. Ives Is
expected to return from Cincinnati tomorrow, and
conference of his Cincinnati and New York creditors
Will be held here Immediately afterward. The new
ticket will be agreed upon at this meeting, and the
fate Of the firm Of Henry S. Ives Co. viii probably
then be determined The firm made assignment
yesterday In consequence Of the uncertainty to the
result Of this conference, and George H. stayner,
president of the Cincinnati, Hamilton and Dayton
Company, authorized the statement that the firm had
not failed and not likely to do Mr.. Stayner
was too busy to a TRIBUNE reporter and was
unable to fix time when he might DO at leisure.
1t Is probable, however, that the firm may make
formal assignment carly In the week. unless the con-
ference of creditors should result In the adoption of
other temporary cape !ient. AccOri-
Ing to the laws Of OHIO a maj OPty Of the directors
must DO residents Of the Stao. aud this account
there Is some difference of opinion between the West
crn ana Newly OrA interests. There Is also a ques-
ton about the choice OF assignee the firm
should be forced to make an assignment Some OF
the creditors are unwilling that the appointment
should be given TO the Christopher Meyer interest and
are ready 10 insist that the assignee must be a
wholly disinteresed person. There may be contest
ON this point well about the validity Of the fresh
issues of preferred stock.
One Of TIE counsel Of the railroad company said
81 know very little about the affairs of Henry 5.
Ives 81 CO., although should probably draw the
pa crs n the firm made an assignment / do know
something about the railroad. ard am sure that only
prevents the stock from being desirable investment.
The Gaming capacity Of the property j. very great"
There were no transactions in Cincinnati, hamilton
and IayOn at the stock Exchange, but the stock WAS
was alleged to be an excuse for the final decline In
the general market.